InVivo Therapeutics Holdings Corp. (NVIV): Business Model Canvas

Key Partnerships

InVivo Therapeutics Holdings Corp. values strong partnerships in order to achieve its goals in the field of neurotrauma and spinal cord injury treatment. These partnerships are crucial for research collaboration, regulatory compliance, distribution, and patient access.

• Collaboration with medical research institutions: InVivo Therapeutics collaborates with renowned medical research institutions to conduct cutting-edge research and develop innovative treatments for neurotrauma and spinal cord injuries. These partnerships provide access to expertise, resources, and facilities that are essential for advancing the field.
• Partnerships with hospitals and clinics: InVivo Therapeutics partners with hospitals and clinics to ensure that its medical devices are accessible to patients in need. These partnerships also help in gathering real-world data on the efficacy of the treatments, which is crucial for continuous improvement and regulatory compliance.
• Regulatory bodies for compliance and approvals: Collaboration with regulatory bodies is essential for obtaining approvals for InVivo Therapeutics' products and treatments. These partnerships ensure that the company complies with all regulations and standards, making sure that its products are safe and effective for patients.
• Strategic distribution partners: InVivo Therapeutics works with strategic distribution partners to ensure that its products reach the right markets and patients. These partnerships help in expanding the company's reach and making its treatments more accessible to those in need.

Key Activities

Research and development of biopolymer scaffolding: InVivo Therapeutics Holdings Corp. focuses on creating innovative biopolymer scaffolding materials that can be used for nerve repair treatments. This involves conducting extensive research to develop scaffolds that are biocompatible, biodegradable, and able to promote tissue regeneration.

Clinical trials for nerve repair treatments: The company conducts clinical trials to test the efficacy and safety of their nerve repair treatments. These trials are essential for gathering data on the effectiveness of the treatments and obtaining regulatory approval for commercialization.

Regulatory compliance and certification processes: InVivo Therapeutics Holdings Corp. ensures that all their products meet regulatory standards and requirements. This involves obtaining certification from regulatory bodies such as the FDA to ensure that their products are safe and effective for clinical use.

Marketing and educational outreach to medical professionals: The company engages in marketing and educational outreach activities to raise awareness about their nerve repair treatments among medical professionals. This includes attending medical conferences, hosting workshops, and collaborating with key opinion leaders in the field of neurosurgery.

Supplier partnership and management: InVivo Therapeutics Holdings Corp. establishes partnerships with suppliers to ensure a reliable source of high-quality materials for their biopolymer scaffolding. They also manage these relationships to ensure timely delivery and cost-effective procurement of materials.

Key Resources

• Skilled research and development team
• Clinical trial facilities and equipment
• Regulatory experts
• Marketing and sales team
• Supplier network

Key Partnerships

• Biomedical research institutions
• Clinical trial sites
• Regulatory authorities
• Medical device distributors
• Material suppliers

Cost Structure

Research and development costs: InVivo Therapeutics Holdings Corp. invests heavily in research and development to create innovative nerve repair treatments. This includes costs associated with lab equipment, materials, and research personnel.

Clinical trial expenses: Conducting clinical trials can be a costly process due to the need for specialized facilities, equipment, and personnel. The company incurs expenses for patient recruitment, data collection, and regulatory compliance.

Regulatory compliance costs: Obtaining regulatory approval for nerve repair treatments requires compliance with strict standards and regulations. This involves additional costs for documentation, testing, and regulatory submissions.

Marketing and educational outreach expenses: Promoting nerve repair treatments to medical professionals involves costs for marketing materials, conferences, and educational events. These expenses are essential for raising awareness and driving sales.

Key Resources

Intellectual property on biopolymer device technology: InVivo Therapeutics Holdings Corp. holds valuable intellectual property related to its innovative biopolymer device technology. This technology allows for the development of cutting-edge medical devices that can be used in the treatment of spinal cord injuries.

Expert team in neurology and biomedical engineering: The company has assembled a team of experts in the fields of neurology and biomedical engineering. These professionals bring a wealth of knowledge and experience to the table, ensuring that the company remains at the forefront of medical innovation.

Advanced laboratory and research facilities: InVivo Therapeutics Holdings Corp. has access to state-of-the-art laboratory and research facilities. These facilities play a crucial role in the development and testing of new medical devices, helping the company to bring innovative products to market.

Relationships with medical and regulatory communities: The company has established strong relationships with key stakeholders in the medical and regulatory communities. These relationships are essential for navigating the complex landscape of healthcare regulations and ensuring that the company's products meet the highest standards of safety and efficacy.

Value Propositions

InVivo Therapeutics Holdings Corp. (NVIV) offers innovative biopolymer devices specifically designed for spinal cord injury repair, providing a unique and advanced solution for patients facing this debilitating condition. These devices aim to offer hope for improved functionality and quality of life for individuals who have experienced spinal cord injuries.

• Reduced Risk: The biopolymer devices developed by InVivo Therapeutics Holdings Corp. offer reduced risk and potential complications compared to traditional treatments for spinal cord injuries. This provides peace of mind for patients and healthcare providers.
• Ongoing Support: In addition to providing cutting-edge biopolymer devices, InVivo Therapeutics Holdings Corp. also offers ongoing support and education for healthcare providers. This support ensures that healthcare professionals are well-equipped to use the devices effectively and provide optimal care for patients.

Overall, InVivo Therapeutics Holdings Corp. is dedicated to delivering innovative solutions that not only address the physical challenges associated with spinal cord injuries but also offer hope and improved outcomes for patients.

Customer Relationships

InVivo Therapeutics Holdings Corp. recognizes the importance of building strong relationships with its customers in order to provide effective support and solutions for patients with spinal cord injuries. The company utilizes a variety of strategies to engage with healthcare providers, patients, and other stakeholders:

• Engagement through professional medical seminars and conferences: InVivo regularly participates in industry events and conferences to connect with healthcare professionals, educate them about the latest advancements in spinal cord injury treatment, and gather feedback on their needs and challenges.
• Direct support to healthcare providers: The company offers personalized support to healthcare providers through information sessions, product demonstrations, and hands-on training to ensure that they are equipped to successfully implement InVivo's innovative solutions.
• Patient outreach via educational healthcare materials: InVivo provides patients with educational materials, such as brochures, videos, and online resources, that explain their treatment options, answer common questions, and help them make informed decisions about their care.
• Online platform for resource sharing and updates: InVivo maintains an online platform where healthcare providers, patients, and other stakeholders can access the latest research, news, and resources related to spinal cord injury treatment. This platform also serves as a hub for collaboration and networking among users.

Channels

InVivo Therapeutics Holdings Corp. (NVIV) utilizes a variety of channels to reach its target market and distribute its innovative medical products:

• Direct sales to hospitals and clinics: InVivo Therapeutics has a dedicated sales team that directly reaches out to hospitals and clinics to promote and sell its products. This channel allows for direct communication with healthcare professionals who can benefit from the company's products.
• Online platforms for product information and order: InVivo Therapeutics maintains a strong online presence through its website and various online platforms. This channel provides customers with easy access to product information, pricing, and the ability to place orders online. It also serves as a valuable resource for healthcare professionals to learn more about the company's products.
• Medical trade shows and conferences: InVivo Therapeutics actively participates in medical trade shows and conferences to showcase its products and establish connections with key industry players. This channel enables the company to engage directly with healthcare professionals, research institutions, and potential partners.
• Collaboration with medical sales representatives: InVivo Therapeutics partners with medical sales representatives to expand its reach and increase product awareness. These representatives act as intermediaries between the company and healthcare facilities, providing crucial support in promoting and selling the company's products.

Customer Segments

Hospitals and healthcare clinics specializing in neurology: InVivo Therapeutics targets hospitals and healthcare clinics that specialize in neurology as key customers. These facilities are likely to be interested in the company's innovative technologies and therapies for acute spinal cord injuries.

Patients with acute spinal cord injuries: Another important customer segment for InVivo Therapeutics is patients who have suffered from acute spinal cord injuries. These individuals are in need of effective treatments and may benefit from the solutions offered by the company.

Medical professionals in neurosurgery and rehabilitation: InVivo Therapeutics also aims to reach medical professionals in the fields of neurosurgery and rehabilitation. These experts play a crucial role in the treatment and recovery of patients with spinal cord injuries, and they may be interested in incorporating the company's products into their practices.

Healthcare insurance providers considering coverage of new therapies: Lastly, InVivo Therapeutics targets healthcare insurance providers that are evaluating the coverage of new therapies. By demonstrating the effectiveness and value of its solutions, the company aims to secure partnerships with insurance companies to expand access to its treatments for patients.

• Hospitals and healthcare clinics specializing in neurology
• Patients with acute spinal cord injuries
• Medical professionals in neurosurgery and rehabilitation
• Healthcare insurance providers considering coverage of new therapies

Cost Structure

InVivo Therapeutics Holdings Corp. (NVIV) incurs various costs in order to operate and grow its business. The cost structure of the company can be broken down as follows:

• High research and development expenses: InVivo Therapeutics invests heavily in research and development in order to create innovative medical technologies and treatments. This includes costs associated with hiring skilled researchers, conducting experiments, and acquiring intellectual property.
• Costs associated with clinical trials and regulatory approvals: Before a medical product can be brought to market, it must undergo rigorous clinical trials to ensure its safety and efficacy. This process incurs significant costs, including expenses related to patient recruitment, monitoring, and regulatory compliance.
• Production and technology maintenance costs: Once a product is ready for commercialization, the company must invest in manufacturing facilities, equipment, and technology to produce and maintain its products. This includes expenses for raw materials, labor, and quality control.
• Marketing and sales expenditure: In order to reach customers and generate revenue, InVivo Therapeutics must invest in marketing and sales activities. This includes costs associated with advertising, promotion, sales commissions, and distribution channels.

Revenue Streams

Sales of biopolymer scaffolding devices: InVivo Therapeutics Holdings Corp. generates a significant portion of its revenue through the sale of its biopolymer scaffolding devices. These devices are used in spinal cord injury treatments to support tissue regrowth and aid in the healing process. The company focuses on developing innovative and high-quality products to meet the needs of patients and healthcare providers.

Potential licensing of technologies to other medical companies: In addition to selling its own products, InVivo Therapeutics Holdings Corp. also has the opportunity to license its technologies to other medical companies. This can provide a source of recurring revenue through royalties and fees. By strategically partnering with other organizations, the company can expand its reach and impact in the medical device industry.

Grants and funding from research institutions: Research and development are crucial components of InVivo Therapeutics Holdings Corp.'s business model. The company relies on grants and funding from research institutions to support its ongoing projects and innovations. By securing funding from reputable sources, InVivo can continue to push the boundaries of spinal cord injury treatments and develop cutting-edge solutions for patients.

Revenue from educational programs and workshops for healthcare professionals: InVivo Therapeutics Holdings Corp. offers educational programs and workshops for healthcare professionals to learn about its products and treatments. These programs not only serve as a valuable resource for medical professionals but also generate revenue for the company. By providing education and training opportunities, InVivo can build relationships with key stakeholders in the healthcare industry and promote the adoption of its products.